China cancels $28m of DR Congo debt to aid COVID fight
To help the sub-Saharan giant fight the coronavirus epidemic, China has canceled a portion of the debt owed by DR Congo, the Congolese presidency said on Thursday.
During a visit to the country this week, Foreign Minister Wang Yi made the gesture of putting 180 million yuan ($28 million) back into government coffers.
To support wider development efforts, Wang also offered a further $15 million.
According to The EastAfrican, China is a major investor in the Democratic Republic of the Congo, and researchers at Johns Hopkins University in the United States have estimated that more than $2.4 billion in loans have been extended by Chinese entities over the past two decades.
“The cancellation of the debt should enable the DRC to fight effectively against the Covid-19 pandemic,” the Congolese presidency revealed in a press release.
DR Congo has officially registered 18,738 cases and 610 deaths since the first coronavirus cases were detected on March 10.